MNI China Press Digest, Nov 20: PBOC, Housing, LPR

     BEIJING (MNI) - The following lists highlights from Chinese press reports

on Wednesday:

     The PBOC will continue to strengthen counter-cyclical adjustment and

increase credit support to the real economy as it seeks to stabilize economic

growth, PBOC governor Yi Gang said at a meeting on Tuesday. In comments reported

on the PBOC website, Yi said the central bank would also guide real lending

interest rates lower and promote the replenishment of bank capital.

     China's housing market continues to cool and the supply of commercial stock

may exceed demand in 2020, the Economic Information Daily reports. Citing data

from the Shanghai E-House Real Estate Research Institute, the Daily's report

says that in addition to increased inventories at third and fourth-tier cities,

Beijing also has 72,800 sets of unsold houses, the highest in eight years.

     The new five-year Loan Prime Rate (LPR), which was cut by 5bps to 4.80%

today, could stimulate demand for home purchases, according to a report by

Cailian Press. Citing Yan Yuejin, the director of the E-House Real Estate

Research Institute, the Cailian report says the five-year LPR acts as a

reference for medium and long-term loans which are mainly personal mortgage

loans. The LPR cut, Yan said, could therefore help in reducing the cost of

buying a house.

--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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